Article Highlights: Bureau of the Fiscal Service Allowable Refund Offsets Disputing an Offset Injured Spouse Claim As the 2015 tax season approaches, you may be getting excited about your potential tax refund. However, that excitement may be premature if you have outstanding federal or state debts. The Treasury Department’s Bureau of the Fiscal Service (BFS) issues … [Read more...] about Unpaid Debt Can Take Your Refund
Are Legal Expenses Tax Deductible?
Article Highlights: Legal Fees Associated with Personal, Living, or Family Issues Legal Fees Associated with Business and the Production of Taxable Income Examples of Legal Fees and Their Deductibility The Tax Benefit of Legal Fee Deductions A frequent question that arises is whether legal expenses are deductible. The answer to that question can be both yes and no and … [Read more...] about Are Legal Expenses Tax Deductible?
Don’t Be a Victim to IRS Phone and E-Mail Scams
Thieves use taxpayers’ natural fear of the IRS and other government entities to ply their scams, including e-mail and phone scams, to steal your money. They also use phishing schemes to trick you into divulging your SSN, date of birth, account numbers, passwords and other personal data that allow them to scam the IRS and others using your name and destroy your credit in the … [Read more...] about Don’t Be a Victim to IRS Phone and E-Mail Scams
Important Reminder for Purchasing Your Health Insurance Through The Government Marketplace
Article Highlights: Determining Household Income The Advanced Premium Tax Credit Marketplace Estimate of Income Modified Adjusted Gross Income Who Is Family for Health Insurance Purposes? When applying for insurance through a state or the federal health insurance marketplace, you will be asked to provide an estimate of your household income for 2016. Your household … [Read more...] about Important Reminder for Purchasing Your Health Insurance Through The Government Marketplace
All You Need to Know about the New Tax Extender Legislation
Article Highlights: Individual Provisions Business Provisions Energy Provisions Congress has reached a bipartisan agreement on tax extenders, aptly named “Protecting Americans from Tax Hikes Act of 2015”. Much to everyone’s surprise, some were made permanent while others were only extended for a period of time. Congress also modified several provisions and added new ones … [Read more...] about All You Need to Know about the New Tax Extender Legislation